00007081912012-01-302013-01-290000708191fft1:S000006971Memberfft1:RetailMember2012-01-302013-01-290000708191fft1:S000006971Memberfft1:RetailMemberfft1:C000019024Member2012-01-302013-01-290000708191fft1:S000006971Memberfft1:RetailMemberfft1:ReturnBeforeTaxesMemberfft1:C000019024Member2012-01-302013-01-290000708191fft1:S000006971Memberfft1:RetailMemberrr:AfterTaxesOnDistributionsMemberfft1:C000019024Member2012-01-302013-01-290000708191fft1:S000006971Memberfft1:RetailMemberrr:AfterTaxesOnDistributionsAndSalesMemberfft1:C000019024Member2012-01-302013-01-290000708191fft1:S000006971Memberfft1:RetailMemberfft1:SAndPFiveHundredIndexMember2012-01-302013-01-290000708191fft1:S000006970Memberfft1:RetailMember2012-01-302013-01-290000708191fft1:S000006970Memberfft1:RetailMemberfft1:C000019023Member2012-01-302013-01-290000708191fft1:S000006970Memberfft1:RetailMemberfft1:ReturnBeforeTaxesMemberfft1:C000019023Member2012-01-302013-01-290000708191fft1:S000006970Memberfft1:RetailMemberrr:AfterTaxesOnDistributionsMemberfft1:C000019023Member2012-01-302013-01-290000708191fft1:S000006970Memberfft1:RetailMemberrr:AfterTaxesOnDistributionsAndSalesMemberfft1:C000019023Member2012-01-302013-01-290000708191fft1:S000006970Memberfft1:RetailMemberfft1:RussellThirtyHundredValueIndexMember2012-01-302013-01-290000708191fft1:S000006970Memberfft1:RetailMemberfft1:MsciUsImHighDividendYieldIndexMember2012-01-302013-01-290000708191fft1:S000006969Memberfft1:RetailMemberfft1:C000019022Member2012-01-302013-01-290000708191fft1:S000006969Memberfft1:AtbcMember2012-01-302013-01-290000708191fft1:S000006969Memberfft1:RetailMemberrr:AfterTaxesOnDistributionsMemberfft1:C000019022Member2012-01-302013-01-290000708191fft1:S000006969Memberfft1:RetailMemberrr:AfterTaxesOnDistributionsAndSalesMemberfft1:C000019022Member2012-01-302013-01-290000708191fft1:S000006969Memberfft1:RetailMemberfft1:BofaMerrillLynchAllUsConvertiblesIndexMember2012-01-302013-01-290000708191fft1:S000006969Memberfft1:RetailMemberfft1:ReturnBeforeTaxesMemberfft1:C000019022Member2012-01-302013-01-290000708191fft1:S000006969Memberfft1:RetailMember2012-01-302013-01-290000708191fft1:S000006971Memberfft1:KMember2012-01-302013-01-290000708191fft1:S000006970Memberfft1:KMemberfft1:C000064237Member2012-01-302013-01-290000708191fft1:S000006969Memberfft1:AtbcMemberfft1:C000074867Member2012-01-302013-01-290000708191fft1:S000006969Memberfft1:AtbcMemberfft1:C000074870Member2012-01-302013-01-290000708191fft1:S000006969Memberfft1:AtbcMemberfft1:C000074869Member2012-01-302013-01-290000708191fft1:S000006969Memberfft1:AtbcMemberfft1:C000074868Member2012-01-302013-01-290000708191fft1:S000006970Memberfft1:KMemberfft1:RussellThirtyHundredValueIndexMember2012-01-302013-01-290000708191fft1:S000006970Memberfft1:KMemberfft1:MsciUsImHighDividendYieldIndexMember2012-01-302013-01-290000708191fft1:S000006971Memberfft1:KMemberfft1:C000064238Member2012-01-302013-01-290000708191fft1:S000006969Memberfft1:InstMember2012-01-302013-01-290000708191fft1:S000006969Memberfft1:InstMemberfft1:C000074871Member2012-01-302013-01-290000708191fft1:S000006970Memberfft1:KMember2012-01-302013-01-290000708191fft1:S000006969Memberfft1:InstMemberrr:AfterTaxesOnDistributionsMemberfft1:C000074871Member2012-01-302013-01-290000708191fft1:S000006969Memberfft1:InstMemberfft1:ReturnBeforeTaxesMemberfft1:C000074871Member2012-01-302013-01-290000708191fft1:S000006969Memberfft1:InstMemberrr:AfterTaxesOnDistributionsAndSalesMemberfft1:C000074871Member2012-01-302013-01-290000708191fft1:S000006969Memberfft1:InstMemberfft1:BofaMerrillLynchAllUsConvertiblesIndexMember2012-01-302013-01-290000708191fft1:S000006971Memberfft1:KMemberfft1:SAndPFiveHundredIndexMember2012-01-302013-01-290000708191fft1:S000006969Memberfft1:AtbcMemberfft1:ReturnBeforeTaxesMemberfft1:C000074867Member2012-01-302013-01-290000708191fft1:S000006969Memberfft1:AtbcMemberrr:AfterTaxesOnDistributionsMemberfft1:C000074867Member2012-01-302013-01-290000708191fft1:S000006969Memberfft1:AtbcMemberrr:AfterTaxesOnDistributionsAndSalesMemberfft1:C000074867Member2012-01-302013-01-290000708191fft1:S000006969Memberfft1:AtbcMemberfft1:ReturnBeforeTaxesMemberfft1:C000074870Member2012-01-302013-01-290000708191fft1:S000006969Memberfft1:AtbcMemberfft1:ReturnBeforeTaxesMemberfft1:C000074868Member2012-01-302013-01-290000708191fft1:S000006969Memberfft1:AtbcMemberfft1:ReturnBeforeTaxesMemberfft1:C000074869Member2012-01-302013-01-290000708191fft1:S000006969Memberfft1:AtbcMemberfft1:BofaMerrillLynchAllUsConvertiblesIndexMember2012-01-302013-01-29pureiso4217:USD2013-01-29485BPOSFIDELITY FINANCIAL TRUST00007081912013-01-282013-01-292012-11-30false<font style="FONT-FAMILY: Times New Roman" size="5"><b>Fund Summary</b></font><br/><br/><font style="FONT-FAMILY: Times New Roman" size="3"><b>Fund</b>/Class:<br/><b>Fidelity<sup>&#174;</sup> Independence Fund</b>/Fidelity Independence Fund</font><font style="FONT-FAMILY: Times New Roman" size="4"><b>Investment Objective</b></font><font style="FONT-FAMILY: Times New Roman" size="3">The fund seeks capital appreciation.</font><font style="FONT-FAMILY: Times New Roman" size="4"><b>Fee Table</b></font><font style="FONT-FAMILY: Times New Roman" size="3">The following table describes the fees and expenses that may be incurred when you buy and hold shares of the fund.</font><font style="FONT-FAMILY: Times New Roman" size="3"><b>Shareholder fees</b></font><br/><font size="-2"><b>(fees paid directly from your investment)</b></font><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><font size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font><font style="FONT-FAMILY: Times New Roman" size="3">This <b>example</b> helps compare the cost of investing in the fund with the cost of investing in other mutual funds.<br/><br/>Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:</font><font style="FONT-FAMILY: Times New Roman" size="4"><b>Portfolio Turnover</b></font><font style="FONT-FAMILY: Times New Roman" size="3">The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 82% of the average value of its portfolio.</font><font style="FONT-FAMILY: Times New Roman" size="4"><b>Principal Investment Strategies</b></font><ul><li><font style="FONT-FAMILY: Times New Roman" size="3">Normally investing primarily in common stocks.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3">Investing in domestic and foreign issuers.</font></li> <li><font style="FONT-FAMILY: Times New Roman" size="3">Investing in either "growth" stocks or "value" stocks or both.</font></li> <li><font style="FONT-FAMILY: Times New Roman" size="3">Using fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments.</font></li> <li><font style="FONT-FAMILY: Times New Roman" size="3">Realizing capital gains without considering the tax consequences to shareholders.</font></li></ul><font style="FONT-FAMILY: Times New Roman" size="4"><b>Principal Investment Risks</b></font><ul><li><font style="FONT-FAMILY: Times New Roman" size="3"><i>Stock Market Volatility.</i> Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market and different types of securities can react differently to these developments.</font></li> <li><font style="FONT-FAMILY: Times New Roman" size="3"><i>Foreign Exposure.</i> Foreign markets can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market.</font></li> <li><font style="FONT-FAMILY: Times New Roman" size="3"><i>Issuer-Specific Changes.</i> The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole.</font></li></ul> <font style="FONT-FAMILY: Times New Roman" size="3">An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund.</font><font style="FONT-FAMILY: Times New Roman" size="4"><b>Performance</b></font><font style="FONT-FAMILY: Times New Roman" size="3">The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index over various periods of time. The index description appears in the Additional Information about the Index section of the prospectus. Past performance (before and after taxes) is not an indication of future performance.<br/><br/>Visit www.fidelity.com for updated return information.</font><font style="FONT-FAMILY: Times New Roman" size="4"><b>Year-by-Year Returns</b></font><br/><font style="FONT-FAMILY: Times New Roman" size="2">Calendar Years</font><table border="1" width="95%"><tr><td><div align="left"><i><font size="-1">During the periods shown in the chart:</font></i> </div></td><td valign="bottom" align="center"><div align="center"><i><font size="-2">Returns</font></i> </div></td><td valign="bottom" align="center"><div align="center"><i><font size="-2">Quarter ended</font></i></div></td></tr><tr><td><div align="left"><i><font size="-1">Highest Quarter Return</font></i> </div></td><td><div align="right"><i><font size="-1">21.81%</font></i> </div></td><td><div align="left"><i><font size="-1">September 30, 2009</font></i></div></td></tr><tr><td><div align="left"><i><font size="-1">Lowest Quarter Return</font></i> </div></td><td><div align="right"><i><font size="-1">-31.87%</font></i> </div></td><td><div align="left"><i><font size="-1">September 30, 2008</font></i></div></td></tr></table><font style="FONT-FAMILY: Times New Roman" size="4"><b>Average Annual Returns</b></font><font style="FONT-FAMILY: Times New Roman" size="3">After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement. Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares.</font><br/><br/><font style="FONT-FAMILY: Times New Roman" size="2">For the periods ended<br/>December 31, 2012</font>0.82<font style="FONT-FAMILY: Times New Roman" size="3">You could lose money by investing in the fund.</font><font style="FONT-FAMILY: Times New Roman" size="3">An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. </font><font style="FONT-FAMILY: Times New Roman" size="3">The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index over various periods of time.</font><font style="FONT-FAMILY: Times New Roman" size="3"> Past performance (before and after taxes) is not an indication of future performance. </font><font style="FONT-FAMILY: Times New Roman" size="3">www.fidelity.com</font><font style="FONT-FAMILY: Times New Roman" size="3">After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes.</font><font style="FONT-FAMILY: Times New Roman" size="3">The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement.</font><font style="FONT-FAMILY: Times New Roman" size="3">Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares.</font>00.005700.00210.0078802494339660.23660.11650.10550.12260.2954-0.48090.39870.2224-0.10850.19950.19950.19920.13010.16-0.0104-0.0113-0.00890.01660.07740.06840.07640.071<font style="FONT-FAMILY: Times New Roman" size="5"><b>Fund Summary</b></font><br/><br/><font style="FONT-FAMILY: Times New Roman" size="3"><b>Fund/</b>Class:<br/><b>Fidelity<sup>&#174;</sup> Equity Dividend Income Fund/</b>Fidelity Equity Dividend Income Fund</font><font style="FONT-FAMILY: Times New Roman" size="4"><b>Investment Objective</b></font><font style="FONT-FAMILY: Times New Roman" size="3">The fund seeks reasonable income. The fund will also consider the potential for capital appreciation. The fund looks for a yield that exceeds the composite yield on the securities comprising the S&amp;P 500<sup>&#174;</sup> Index. </font><font style="FONT-FAMILY: Times New Roman" size="4"><b>Fee Table</b></font><font style="FONT-FAMILY: Times New Roman" size="3">The following table describes the fees and expenses that may be incurred when you buy and hold shares of the fund. </font><font style="FONT-FAMILY: Times New Roman" size="3"><b>Shareholder fees</b></font><br/><font size="-2"><b>(fees paid directly from your investment)</b></font><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><font size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font><font style="FONT-FAMILY: Times New Roman" size="3">This <b>example</b> helps compare the cost of investing in the fund with the cost of investing in other mutual funds.<br/><br/>Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:</font><font style="FONT-FAMILY: Times New Roman" size="4"><b>Portfolio Turnover</b></font><font style="FONT-FAMILY: Times New Roman" size="3">The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 78% of the average value of its portfolio.</font><font style="FONT-FAMILY: Times New Roman" size="4"><b>Principal Investment Strategies</b></font><ul><li><font style="FONT-FAMILY: Times New Roman" size="3">Normally investing at least 80% of assets in equity securities.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3">Normally investing primarily in income-producing equity securities that pay current dividends and show potential for capital appreciation, which tends to lead to investments in large cap "value" stocks.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3">Potentially investing in other types of equity securities and debt securities, including lower-quality debt securities.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3">Investing in domestic and foreign issuers.</font></li> <li><font style="FONT-FAMILY: Times New Roman" size="3">Using fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments.</font></li></ul><font style="FONT-FAMILY: Times New Roman" size="4"><b>Principal Investment Risks</b></font><ul><li><font style="FONT-FAMILY: Times New Roman" size="3"><i>Stock Market Volatility.</i> Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market and different types of securities can react differently to these developments.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3"><i>Interest Rate Changes.</i> Interest rate increases can cause the price of a debt security to decrease.</font></li> <li><font style="FONT-FAMILY: Times New Roman" size="3"><i>Foreign Exposure.</i> Foreign markets can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3"><i>Issuer-Specific Changes.</i> The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole. Lower-quality debt securities (those of less than investment-grade quality, also referred to as high yield debt securities) and certain types of other securities involve greater risk of default or price changes due to changes in the credit quality of the issuer. The value of lower-quality debt securities and certain types of other securities can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3"><i>"Value" Investing. </i>"Value" stocks can perform differently from the market as a whole and other types of stocks and can continue to be undervalued by the market for long periods of time.</font></li></ul><font style="FONT-FAMILY: Times New Roman" size="3">An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund.</font><font style="FONT-FAMILY: Times New Roman" size="4"><b>Performance</b></font><font style="FONT-FAMILY: Times New Roman" size="3">The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index and an additional index over various periods of time. The indexes have characteristics relevant to the fund's investment strategies. Index descriptions appear in the Additional Information about the Indexes section of the prospectus. Past performance (before and after taxes) is not an indication of future performance.<br/><br/> Visit www.fidelity.com for updated return information.</font><font style="FONT-FAMILY: Times New Roman" size="4"><b>Year-by-Year Returns</b></font><br/><font style="FONT-FAMILY: Times New Roman" size="2">Calendar Years</font><table border="1" width="95%"><tr><td><div align="left"><i><font size="-1">During the periods shown in the chart:</font></i> </div></td><td valign="bottom" align="center"><div align="center"><i><font size="-2">Returns</font></i> </div></td><td valign="bottom" align="center"><div align="center"><i><font size="-2">Quarter ended</font></i></div></td></tr><tr><td><div align="left"><i><font size="-1">Highest Quarter Return</font></i> </div></td><td><div align="right"><i><font size="-1">19.60%</font></i> </div></td><td><div align="left"><i><font size="-1">June 30, 2003</font></i></div></td></tr><tr><td><div align="left"><i><font size="-1">Lowest Quarter Return</font></i> </div></td><td><div align="right"><i><font size="-1">-22.45%</font></i> </div></td><td><div align="left"><i><font size="-1">December 31, 2008</font></i></div></td></tr></table><font style="FONT-FAMILY: Times New Roman" size="4"><b>Average Annual Returns</b></font><font style="FONT-FAMILY: Times New Roman" size="3">After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement. Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares. </font><br/><br/><font style="FONT-FAMILY: Times New Roman" size="2">For the periods ended<br/> December 31, 2012</font>0<font style="FONT-FAMILY: Times New Roman"><b>Fidelity Independence Fund</b></font><font style="FONT-FAMILY: Times New Roman"><b>Fidelity Independence Fund</b></font><font style="FONT-FAMILY: Times New Roman"><b>Fidelity Independence Fund</b></font>0.0046<font style="FONT-FAMILY: Times New Roman"><b>Return Before Taxes</b></font><font style="FONT-FAMILY: Times New Roman"><b>Return After Taxes on Distributions </b></font><font style="FONT-FAMILY: Times New Roman"><b>Return After Taxes on Distributions and Sale of Fund Shares </b></font><font style="FONT-FAMILY: Times New Roman">S&amp;P 500<sup>&#174;</sup> Index</font>00.00210.0067682143738350.3260.09880.04630.13730.0447-0.40380.25120.1354-0.02750.147<font style="FONT-FAMILY: Times New Roman" size="2"><i>Highest Quarter Return</i></font>2009-09-300.21810.147<font style="FONT-FAMILY: Times New Roman" size="2"><i>Lowest Quarter Return</i></font>0.14280.10090.17550.10952008-09-30-0.3187-0.0113-0.0145-0.010.00830.05520.04770.0470.07540.78<font style="FONT-FAMILY: Times New Roman" size="3">An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</font><font style="FONT-FAMILY: Times New Roman" size="3">You could lose money by investing in the fund.</font><font style="FONT-FAMILY: Times New Roman" size="3">The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index and an additional index over various periods of time.</font><font style="FONT-FAMILY: Times New Roman" size="3">Past performance (before and after taxes) is not an indication of future performance.</font><font style="FONT-FAMILY: Times New Roman" size="3">www.fidelity.com</font><font style="FONT-FAMILY: Times New Roman" size="3">After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes.</font><font style="FONT-FAMILY: Times New Roman" size="3">The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement.</font><font style="FONT-FAMILY: Times New Roman" size="3">Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares.</font><div style="display:none">~ http://www.fidelity.com/role/ScheduleShareholderFeesFidelityIndependenceFund column period compact * ~</div>
<div style="display:none">~ http://www.fidelity.com/role/ScheduleExpenseExampleFidelityIndependenceFund column period compact * ~</div>
0<div style="display:none">~ http://www.fidelity.com/role/ScheduleAnnualTotalReturnsFidelityIndependenceFundBarChart column period compact * ~</div>
0.005300.00230.0076<div style="display:none">~ http://www.fidelity.com/role/ScheduleAverageAnnualTotalReturnsTransposedFidelityIndependenceFund column period compact * ~</div>
0.28320.10210.05950.15130.1624-0.47780.64110.2085-0.07330.168278243422942<font style="FONT-FAMILY: Times New Roman"><b>Return Before Taxes</b></font><font style="FONT-FAMILY: Times New Roman"><b>Return After Taxes on Distributions </b></font><font style="FONT-FAMILY: Times New Roman"><b>Return After Taxes on Distributions and Sale of Fund Shares</b></font><font style="FONT-FAMILY: Times New Roman">Russell 3000<sup>&#174;</sup> Value Index </font><font style="FONT-FAMILY: Times New Roman">MSCI<sup>&#174;</sup> U.S. IM High Dividend Yield Index</font><font style="FONT-FAMILY: Times New Roman"><b>Fidelity Equity Dividend Income Fund </b></font><font style="FONT-FAMILY: Times New Roman"><b>Fidelity Equity Dividend Income Fund </b></font><font style="FONT-FAMILY: Times New Roman"><b>Fidelity Equity Dividend Income Fund </b></font><div style="display:none">~ http://www.fidelity.com/role/ScheduleShareholderFeesFidelityEquityDividendIncomeFund column period compact * ~</div>
<div style="display:none">~ http://www.fidelity.com/role/ScheduleAnnualTotalReturnsFidelityEquityDividendIncomeFundBarChart column period compact * ~</div>
<div style="display:none">~ http://www.fidelity.com/role/ScheduleAverageAnnualTotalReturnsTransposedFidelityEquityDividendIncomeFund column period compact * ~</div>
<font style="FONT-FAMILY: Times New Roman" size="5"><b>Fund Summary</b></font><br/><br/><font style="FONT-FAMILY: Times New Roman" size="3">Fund/<b>Class:</b><br/>Fidelity<sup>&#174;</sup> Convertible Securities Fund/<b>Fidelity Advisor<sup>&#174;</sup> Convertible Securities Fund A, T, B, C</b></font>0.16320.11560.14960.16820.02320.01430.01560.04060.08440.07460.06930.0731<font style="FONT-FAMILY: Times New Roman"><b>Fidelity Convertible Securities Fund</b></font><font style="FONT-FAMILY: Times New Roman"><b>Fidelity Convertible Securities Fund</b></font><font style="FONT-FAMILY: Times New Roman"><b>Fidelity Convertible Securities Fund</b></font><font style="FONT-FAMILY: Times New Roman"><b>Return Before Taxes</b></font><font style="FONT-FAMILY: Times New Roman"><b>Return After Taxes on Distributions </b></font><font style="FONT-FAMILY: Times New Roman"><b>Return After Taxes on Distributions and Sale of Fund Shares </b></font><font style="FONT-FAMILY: Times New Roman">The BofA Merrill Lynch&#8480; All US Convertibles Index</font><div style="display:none">~ http://www.fidelity.com/role/ScheduleAnnualclassoperatingExpensesFidelityEquityDividendIncomeFund column period compact * ~</div>
<font style="FONT-FAMILY: Times New Roman" size="2"><i>Highest Quarter Return</i></font>2003-06-300.196<font style="FONT-FAMILY: Times New Roman" size="2"><i>Lowest Quarter Return</i></font><div style="display:none">~ http://www.fidelity.com/role/ScheduleAnnualClassOperatingExpensesFidelityIndependenceFund column period compact * ~</div>
-0.22452008-12-31<font style="FONT-FAMILY: Times New Roman" size="5"><b>Fund Summary</b></font><br/><br/><font style="FONT-FAMILY: Times New Roman" size="3"><b>Fund</b>/Class:<br/><b>Fidelity<sup>&#174;</sup> Convertible Securities Fund</b>/Fidelity Convertible Securities Fund</font><font style="FONT-FAMILY: Times New Roman" size="4"><b>Investment Objective</b></font><font style="FONT-FAMILY: Times New Roman" size="3">The fund seeks a high level of total return through a combination of current income and capital appreciation.</font><font style="FONT-FAMILY: Times New Roman" size="4"><b>Fee Table</b></font><font style="FONT-FAMILY: Times New Roman" size="3">The following table describes the fees and expenses that may be incurred when you buy, hold, or sell shares of the fund.</font><font style="FONT-FAMILY: Times New Roman" size="3"><b>Shareholder fees</b></font><br/><font size="-2"><b>(fees paid directly from your investment)</b></font><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><font size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font><font style="FONT-FAMILY: Times New Roman" size="3">This <b>example</b> helps compare the cost of investing in the fund with the cost of investing in other mutual funds.<br/><br/>Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:</font><font style="FONT-FAMILY: Times New Roman" size="4"><b>Portfolio Turnover</b></font><font style="FONT-FAMILY: Times New Roman" size="3">The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 20% of the average value of its portfolio. </font><font style="FONT-FAMILY: Times New Roman" size="4"><b>Principal Investment Strategies</b></font><ul><li><font style="FONT-FAMILY: Times New Roman" size="3"> Normally investing at least 80% of assets in convertible securities, which are often lower-quality debt securities and perform more like a stock when the underlying share price is high and more like a bond when the underlying share price is low. </font></li> <li><font style="FONT-FAMILY: Times New Roman" size="3">Potentially investing in other types of securities, including common stocks.</font></li> <li><font style="FONT-FAMILY: Times New Roman" size="3">Investing in domestic and foreign issuers.</font></li> <li><font style="FONT-FAMILY: Times New Roman" size="3">Using fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments.</font></li></ul><div style="display:none">~ http://www.fidelity.com/role/ScheduleExpenseExampleFidelityEquityDividendIncomeFund column period compact * ~</div>
<font style="FONT-FAMILY: Times New Roman" size="4"><b>Principal Investment Risks</b></font><ul><li><font style="FONT-FAMILY: Times New Roman" size="3"><i>Stock Market Volatility.</i> Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market and different types of securities can react differently to these developments.</font></li> <li><font style="FONT-FAMILY: Times New Roman" size="3"><i>Interest Rate Changes. </i> Interest rate increases can cause the price of a debt security to decrease.</font></li> <li><font style="FONT-FAMILY: Times New Roman" size="3"><i>Foreign Exposure.</i> Foreign markets can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3"><i>Issuer-Specific Changes.</i> The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole. Lower-quality debt securities (those of less than investment-grade quality, also referred to as high yield debt securities) and certain types of other securities involve greater risk of default or price changes due to changes in the credit quality of the issuer. The value of lower-quality debt securities and certain types of other securities can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments and can be difficult to resell.</font></li></ul> <font style="FONT-FAMILY: Times New Roman" size="3">An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund.</font><font style="FONT-FAMILY: Times New Roman" size="4"><b>Performance</b></font><font style="FONT-FAMILY: Times New Roman" size="3">The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index over various periods of time. The index description appears in the Additional Information about the Index section of the prospectus. Past performance (before and after taxes) is not an indication of future performance.<br/><br/>Visit www.fidelity.com for updated return information.</font><font style="FONT-FAMILY: Times New Roman" size="4"><b>Year-by-Year Returns</b></font><br/><font style="FONT-FAMILY: Times New Roman" size="2">Calendar Years</font><table border="1" width="95%"><tr><td><div align="left"><i><font size="-1">During the periods shown in the chart:</font></i> </div></td><td valign="bottom" align="center"><div align="center"><i><font size="-2">Returns</font></i> </div></td><td valign="bottom" align="center"><div align="center"><i><font size="-2">Quarter ended</font></i></div></td></tr><tr><td><div align="left"><i><font size="-1">Highest Quarter Return</font></i> </div></td><td><div align="right"><i><font size="-1">32.14%</font></i> </div></td><td><div align="left"><i><font size="-1">June 30, 2009</font></i></div></td></tr><tr><td><div align="left"><i><font size="-1">Lowest Quarter Return</font></i> </div></td><td><div align="right"><i><font size="-1">-29.83%</font></i> </div></td><td><div align="left"><i><font size="-1">September 30, 2008</font></i></div></td></tr></table><font style="FONT-FAMILY: Times New Roman" size="4"><b>Average Annual Returns</b></font><font style="FONT-FAMILY: Times New Roman" size="3">After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement. Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares.</font><br/><br/><font style="FONT-FAMILY: Times New Roman" size="2">For the periods ended<br/>December 31, 2012</font>0.2<font style="FONT-FAMILY: Times New Roman" size="3">An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. </font><font style="FONT-FAMILY: Times New Roman" size="3">You could lose money by investing in the fund.</font><font style="FONT-FAMILY: Times New Roman" size="3">The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index over various periods of time.</font><font style="FONT-FAMILY: Times New Roman" size="3"> Past performance (before and after taxes) is not an indication of future performance. </font><font style="FONT-FAMILY: Times New Roman" size="3">www.fidelity.com</font><font style="FONT-FAMILY: Times New Roman" size="3">After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes.</font><font style="FONT-FAMILY: Times New Roman" size="3">The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement.</font><font style="FONT-FAMILY: Times New Roman" size="3">Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares.</font><font style="FONT-FAMILY: Times New Roman" size="2"><i>Highest Quarter Return</i></font>2009-06-300.3214<font style="FONT-FAMILY: Times New Roman" size="2"><i>Lowest Quarter Return</i></font>2008-09-30-0.2983<font style="FONT-FAMILY: Times New Roman" size="4"><b>Investment Objective</b></font><font style="FONT-FAMILY: Times New Roman" size="3">The fund seeks a high level of total return through a combination of current income and capital appreciation.</font><font style="FONT-FAMILY: Times New Roman" size="4"><b>Fee Table</b></font><font style="FONT-FAMILY: Times New Roman" size="3">The following table describes the fees and expenses that may be incurred when you buy, hold, or sell shares of the fund.<br/><br/>You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the fund or certain other Fidelity funds. More information about these and other discounts is available from your investment professional and in the Fund Distribution section beginning on page (Click Here) of the prospectus. </font><font style="FONT-FAMILY: Times New Roman" size="3">You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the fund or certain other Fidelity funds.</font>50000<font style="FONT-FAMILY: Times New Roman" size="3"><b>Shareholder fees</b></font><br/><font size="-2"><b>(fees paid directly from your investment)</b></font><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><font size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font><font style="FONT-FAMILY: Times New Roman" size="3">This <b>example</b> helps compare the cost of investing in the fund with the cost of investing in other mutual funds.<br/><br/>Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated and if you hold your shares:</font><font style="FONT-FAMILY: Times New Roman" size="3">Sell All Shares</font><font style="FONT-FAMILY: Times New Roman" size="3">Hold Shares</font><font style="FONT-FAMILY: Times New Roman" size="4"><b>Portfolio Turnover</b></font><font style="FONT-FAMILY: Times New Roman" size="3">The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 20% of the average value of its portfolio.</font>0.2<font style="FONT-FAMILY: Times New Roman" size="4"><b>Principal Investment Strategies</b></font><ul><li><font style="FONT-FAMILY: Times New Roman" size="3">Normally investing at least 80% of assets in convertible securities, which are often lower-quality debt securities and perform more like a stock when the underlying share price is high and more like a bond when the underlying share price is low.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3">Potentially investing in other types of securities, including common stocks.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3">Investing in domestic and foreign issuers.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3">Using fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments.</font></li></ul><font style="FONT-FAMILY: Times New Roman" size="4"><b>Principal Investment Risks</b></font><ul><li><font style="FONT-FAMILY: Times New Roman" size="3"><i>Stock Market Volatility.</i> Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market and different types of securities can react differently to these developments.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3"><i>Interest Rate Changes.</i> Interest rate increases can cause the price of a debt security to decrease.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3"><i>Foreign Exposure.</i> Foreign markets can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3"><i>Issuer-Specific Changes.</i> The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole. Lower-quality debt securities (those of less than investment-grade quality, also referred to as high yield debt securities) and certain types of other securities involve greater risk of default or price changes due to changes in the credit quality of the issuer. The value of lower-quality debt securities and certain types of other securities can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments and can be difficult to resell.</font></li></ul><font style="FONT-FAMILY: Times New Roman" size="3">An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund.</font><font style="FONT-FAMILY: Times New Roman" size="5"><b>Fund Summary </b></font><br/><br/><font style="FONT-FAMILY: Times New Roman" size="3"><b>Fund</b>/Class:<br/><b>Fidelity<sup>&#174;</sup> Independence Fund</b>/K</font><font style="FONT-FAMILY: Times New Roman" size="3">An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</font><font style="FONT-FAMILY: Times New Roman" size="3">You could lose money by investing in the fund.</font><font style="FONT-FAMILY: Times New Roman" size="4"><b>Performance</b></font><font style="FONT-FAMILY: Times New Roman" size="3">The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index over various periods of time. The index description appears in the Additional Information about the Index section of the prospectus. Past performance (before and after taxes) is not an indication of future performance. <br/><br/>Visit www.advisor.fidelity.com for updated return information. </font><font style="FONT-FAMILY: Times New Roman" size="3">The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index over various periods of time.</font><font style="FONT-FAMILY: Times New Roman" size="3">Past performance (before and after taxes) is not an indication of future performance.</font><font style="FONT-FAMILY: Times New Roman" size="3">www.advisor.fidelity.com</font><div style="display:none">~ http://www.fidelity.com/role/ScheduleShareholderFeesFidelityConvertibleSecuritiesFund column period compact * ~</div>
<font style="FONT-FAMILY: Times New Roman" size="4"><b>Year-by-Year Returns</b></font><div style="display:none">~ http://www.fidelity.com/role/ScheduleAnnualClassOperatingExpensesFidelityConvertibleSecuritiesFund column period compact * ~</div>
<font style="FONT-FAMILY: Times New Roman" size="3">The returns in the bar chart do not reflect any applicable sales charges; if sales charges were reflected, returns would be lower than those shown.</font><br/><br/><font style="FONT-FAMILY: Times New Roman" size="2">Calendar Years</font><div style="display:none">~ http://www.fidelity.com/role/ScheduleExpenseExampleFidelityConvertibleSecuritiesFund column period compact * ~</div>
<table border="1" width="95%"><tr><td><div align="left"><i><font size="-1">During the periods shown in the chart for Class A:</font></i> </div></td><td valign="bottom" align="center"><div align="center"><i><font size="-2">Returns</font></i> </div></td><td valign="bottom" align="center"><div align="center"><i><font size="-2">Quarter ended</font></i></div></td></tr><tr><td><div align="left"><i><font size="-1">Highest Quarter Return</font></i> </div></td><td><div align="right"><i><font size="-1">11.81%</font></i> </div></td><td><div align="left"><i><font size="-1">March 31, 2012</font></i></div></td></tr><tr><td><div align="left"><i><font size="-1">Lowest Quarter Return</font></i> </div></td><td><div align="right"><i><font size="-1">-17.07%</font></i> </div></td><td><div align="left"><i><font size="-1">September 30, 2011</font></i></div></td></tr></table><font style="FONT-FAMILY: Times New Roman" size="4"><b>Average Annual Returns</b></font><font style="FONT-FAMILY: Times New Roman" size="4"><b>Investment Objective</b></font><div style="display:none">~ http://www.fidelity.com/role/ScheduleAnnualTotalReturnsFidelityConvertibleSecuritiesFundBarChart column period compact * ~</div>
<font style="FONT-FAMILY: Times New Roman" size="3">Unlike the returns in the bar chart, the returns in the table reflect the maximum applicable sales charges. After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. After-tax returns for Class A are shown in the table below and after-tax returns for other classes will vary. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement.</font><br/><br/><font style="FONT-FAMILY: Times New Roman" size="2">For the periods ended<br/>December 31, 2012</font><font style="FONT-FAMILY: Times New Roman" size="3">The fund seeks capital appreciation.</font><font style="FONT-FAMILY: Times New Roman" size="4"><b>Fee Table</b></font><font style="FONT-FAMILY: Times New Roman" size="3">The following table describes the fees and expenses that may be incurred when you buy and hold shares of the fund.</font><font style="FONT-FAMILY: Times New Roman" size="3">Unlike the returns in the bar chart, the returns in the table reflect the maximum applicable sales charges.</font><font style="FONT-FAMILY: Times New Roman" size="3"><b>Shareholder fees</b></font><br/><font size="-2"><b>(fees paid directly from your investment)</b></font><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><font size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font><font style="FONT-FAMILY: Times New Roman" size="3">This <b>example</b> helps compare the cost of investing in the fund with the cost of investing in other mutual funds. </font><br/><br/><font style="FONT-FAMILY: Times New Roman" size="3">Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:</font><font style="FONT-FAMILY: Times New Roman" size="4"><b>Portfolio Turnover</b></font><font style="FONT-FAMILY: Times New Roman" size="3">After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes.</font><font style="FONT-FAMILY: Times New Roman" size="3">The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 82% of the average value of its portfolio.</font><font style="FONT-FAMILY: Times New Roman" size="4"><b>Principal Investment Strategies</b></font><font style="FONT-FAMILY: Times New Roman" size="4"><b>Principal Investment Risks</b></font><font style="FONT-FAMILY: Times New Roman" size="3">After-tax returns for Class A are shown in the table below and after-tax returns for other classes will vary.</font><ul><li><font style="FONT-FAMILY: Times New Roman" size="3"><em>Stock Market Volatility.</em> Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market and different types of securities can react differently to these developments.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3"><em>Foreign Exposure.</em> Foreign markets can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3"><em>Issuer-Specific Changes.</em> The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole.</font></li></ul><font style="FONT-FAMILY: Times New Roman" size="3">An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund.</font><font style="FONT-FAMILY: Times New Roman" size="4"><b>Performance</b></font><font style="FONT-FAMILY: Times New Roman" size="3">The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index over various periods of time. The index description appears in the Additional Information about the Index section of the prospectus. Past performance is not an indication of future performance.</font> <br/><br/><font style="FONT-FAMILY: Times New Roman" size="3">Visit www.401k.com and log in for updated return information.</font>0<font style="FONT-FAMILY: Times New Roman" size="4"><b>Year-by-Year Returns</b></font><br/><font style="FONT-FAMILY: Times New Roman" size="2">Calendar Years</font><div style="display:none">~ http://www.fidelity.com/role/ScheduleAverageAnnualTotalReturnsTransposedFidelityConvertibleSecuritiesFund column period compact * ~</div>
<font style="FONT-FAMILY: Times New Roman" size="3">The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement.</font><table border="1" width="95%"><tr><td><div align="left"><i><font size="-1">During the periods shown in the chart:</font></i> </div></td><td valign="bottom" align="center"><div align="center"><i><font size="-2">Returns</font></i> </div></td><td valign="bottom" align="center"><div align="center"><i><font size="-2">Quarter ended</font></i></div></td></tr><tr><td><div align="left"><i><font size="-1">Highest Quarter Return</font></i> </div></td><td><div align="right"><i><font size="-1">21.88%</font></i> </div></td><td><div align="left"><i><font size="-1">September 30, 2009</font></i></div></td></tr><tr><td><div align="left"><i><font size="-1">Lowest Quarter Return</font></i> </div></td><td><div align="right"><i><font size="-1">-22.36%</font></i> </div></td><td><div align="left"><i><font size="-1">September 30, 2011</font></i></div></td></tr></table><font style="FONT-FAMILY: Times New Roman" size="4"><b>Average Annual Returns</b></font><br/><font style="FONT-FAMILY: Times New Roman" size="2">For the periods ended <br/>December 31, 2012 </font><ul><li><font style="FONT-FAMILY: Times New Roman" size="3">Normally investing primarily in common stocks.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3">Investing in domestic and foreign issuers.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3">Investing in either &#8220;growth&#8221; stocks or &#8220;value&#8221; stocks or both.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3">Using fundamental analysis of factors such as each issuer&#8217;s financial condition and industry position, as well as market and economic conditions, to select investments.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3">Realizing capital gains without considering the tax consequences to shareholders.</font></li></ul>0.004600.00080.0054<font style="FONT-FAMILY: Times New Roman" size="3"><i>Class A and Class T purchases of $1 million or more will not be subject to a front-end sales charge. Such Class A and Class T purchases may be subject, upon redemption, to a contingent deferred sales charge (CDSC) of 1.00% or 0.25%, respectively.</i></font><font style="FONT-FAMILY: Times New Roman" size="3"><i>Class A and Class T purchases of $1 million or more will not be subject to a front-end sales charge. Such Class A and Class T purchases may be subject, upon redemption, to a contingent deferred sales charge (CDSC) of 1.00% or 0.25%, respectively.</i></font><font style="FONT-FAMILY: Times New Roman" size="3"><i>On Class C shares redeemed less than one year after purchase.</i></font><font style="FONT-FAMILY: Times New Roman" size="3"><i>Declines over 6 years from 5.00% to 0%. </i></font>55173302677<font style="FONT-FAMILY: Times New Roman" size="2"><i>Lowest Quarter Return</i></font><font style="FONT-FAMILY: Times New Roman" size="2"><i>Highest Quarter Return</i></font>0.25260.1372-0.02610.14870.820.14870.17550.10950.00180.01852008-05-092008-05-092008-05-09<font style="FONT-FAMILY: Times New Roman" size="3">An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</font><font style="FONT-FAMILY: Times New Roman" size="3">You could lose money by investing in the fund.</font><font style="FONT-FAMILY: Times New Roman" size="3">Past performance is not an indication of future performance.</font><font style="FONT-FAMILY: Times New Roman" size="3">www.401k.com and log in for updated return information</font><font style="FONT-FAMILY: Times New Roman" size="2"><em>Highest Quarter Return</em></font>2009-09-300.2188<font style="FONT-FAMILY: Times New Roman" size="5"><b>Fund Summary</b></font><br/><br/><font style="FONT-FAMILY: Times New Roman" size="3">Fund/<b>Class:</b><br/>Fidelity<sup>&#174;</sup> Convertible Securities Fund/<b>Fidelity Advisor<sup>&#174;</sup> Convertible Securities Fund Institutional</b><font style="FONT-FAMILY: Times New Roman" size="2"><em>Lowest Quarter Return</em></font>2011-09-302012-03-31-0.22360.1181<font style="FONT-FAMILY: Times New Roman" size="4"><b>Investment Objective</b></font><font style="FONT-FAMILY: Times New Roman" size="3">The fund seeks a high level of total return through a combination of current income and capital appreciation. </font><font style="FONT-FAMILY: Times New Roman" size="4"><b>Fee Table</b></font><font style="FONT-FAMILY: Times New Roman" size="3">The following table describes the fees and expenses that may be incurred when you buy, hold, or sell shares of the fund.</font><font style="FONT-FAMILY: Times New Roman" size="3"><b>Shareholder fees</b></font><br/><font size="-2"><b>(fees paid directly from your investment)</b></font><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><font size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font>2011-09-30<font style="FONT-FAMILY: Times New Roman" size="3">This <b>example</b> helps compare the cost of investing in the fund with the cost of investing in other mutual funds.<br/><br/>Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:</font>-0.1707<font style="FONT-FAMILY: Times New Roman" size="4"><b>Portfolio Turnover</b></font><font style="FONT-FAMILY: Times New Roman" size="3">The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 20% of the average value of its portfolio.</font><font style="FONT-FAMILY: Times New Roman" size="4"><b>Principal Investment Strategies</b></font><ul><li><font style="FONT-FAMILY: Times New Roman" size="3">Normally investing at least 80% of assets in convertible securities, which are often lower-quality debt securities and perform more like a stock when the underlying share price is high and more like a bond when the underlying share price is low. </font></li><li><font style="FONT-FAMILY: Times New Roman" size="3">Potentially investing in other types of securities, including common stocks.</font></li> <li><font style="FONT-FAMILY: Times New Roman" size="3">Investing in domestic and foreign issuers.</font></li> <li><font style="FONT-FAMILY: Times New Roman" size="3">Using fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments.</font></li></ul><font style="FONT-FAMILY: Times New Roman" size="4"><b>Principal Investment Risks</b></font><ul><li><font style="FONT-FAMILY: Times New Roman" size="3"><i>Stock Market Volatility.</i> Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market and different types of securities can react differently to these developments.</font></li> <li><font style="FONT-FAMILY: Times New Roman" size="3"><i>Interest Rate Changes.</i> Interest rate increases can cause the price of a debt security to decrease.</font></li> <li><font style="FONT-FAMILY: Times New Roman" size="3"><i>Foreign Exposure.</i> Foreign markets can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market.</font></li> <li><font style="FONT-FAMILY: Times New Roman" size="3"><i>Issuer-Specific Changes.</i> The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole. Lower-quality debt securities (those of less than investment-grade quality, also referred to as high yield debt securities) and certain types of other securities involve greater risk of default or price changes due to changes in the credit quality of the issuer. The value of lower-quality debt securities and certain types of other securities can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments and can be difficult to resell.</font></li></ul> <font style="FONT-FAMILY: Times New Roman" size="3">An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund.</font><font style="FONT-FAMILY: Times New Roman" size="3">The information illustrates the changes in the performance of the fund&#8217;s shares from year to year and compares the performance of the fund's shares to the performance of a securities market index over various periods of time.</font><font style="FONT-FAMILY: Times New Roman" size="4"><b>Performance</b></font><font style="FONT-FAMILY: Times New Roman" size="3">The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index over various periods of time. The index description appears in the Additional Information about the Index section of the prospectus. Past performance (before and after taxes) is not an indication of future performance. <br/><br/>Visit www.advisor.fidelity.com for updated return information.</font><font style="FONT-FAMILY: Times New Roman" size="4"><b>Year-by-Year Returns</b></font><br/><font style="FONT-FAMILY: Times New Roman" size="2">Calendar Years</font><table border="1" width="95%"><tr><td><div align="left"><i><font size="-1">During the periods shown in the chart:</font></i> </div></td><td valign="bottom" align="center"><div align="center"><i><font size="-2">Returns</font></i> </div></td><td valign="bottom" align="center"><div align="center"><i><font size="-2">Quarter ended</font></i></div></td></tr><tr><td><div align="left"><i><font size="-1">Highest Quarter Return</font></i> </div></td><td><div align="right"><i><font size="-1">11.84%</font></i> </div></td><td><div align="left"><i><font size="-1">March 31, 2012</font></i></div></td></tr><tr><td><div align="left"><i><font size="-1">Lowest Quarter Return</font></i> </div></td><td><div align="right"><i><font size="-1">-16.99%</font></i> </div></td><td><div align="left"><i><font size="-1">September 30, 2011</font></i></div></td></tr></table><font style="FONT-FAMILY: Times New Roman" size="4"><b>Average Annual Returns</b></font><div style="display:none">~ http://www.fidelity.com/role/ScheduleShareholderFeesFidelityIndependenceFundClassK column period compact * ~</div>
<font style="FONT-FAMILY: Times New Roman" size="3">After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement.</font><br/><br/><font style="FONT-FAMILY: Times New Roman" size="2">For the periods ended<br/>December 31, 2012</font>0.2<font style="FONT-FAMILY: Times New Roman" size="3">You could lose money by investing in the fund.</font><font style="FONT-FAMILY: Times New Roman" size="3">An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. </font><font style="FONT-FAMILY: Times New Roman" size="3">The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index over various periods of time.</font><font style="FONT-FAMILY: Times New Roman" size="3"> Past performance (before and after taxes) is not an indication of future performance. </font><font style="FONT-FAMILY: Times New Roman" size="3">www.advisor.fidelity.com </font><font style="FONT-FAMILY: Times New Roman" size="3">After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. </font><font style="FONT-FAMILY: Times New Roman" size="3">The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement.</font><font style="FONT-FAMILY: Times New Roman" size="2"><i>Highest Quarter Return</i></font>2012-03-310.1184<font style="FONT-FAMILY: Times New Roman" size="2"><i>Lowest Quarter Return</i></font>2011-09-30-0.16990.00570<div style="display:none">~ http://www.fidelity.com/role/ScheduleShareholderFeesFidelityEquityDividendIncomeFundClassK column period compact * ~</div>
0.00090.16240.16730.11490.14960.00660.2470.23770.21460.18662009-02-192009-02-192009-02-192009-02-1900.05750.035000.207867211368-0.0733082200.050.010.1673<div style="display:none">~ http://www.fidelity.com/role/ScheduleAnnualTotalReturnsFidelityEquityDividendIncomeFundClassKBarChart column period compact * ~</div>
<div style="display:none">~ http://www.fidelity.com/role/ScheduleAnnualTotalReturnsFidelityIndependenceFundClassKBarChart column period compact * ~</div>
822554449900.40140.224-0.10710.20050.00530.00530.00530.005300.00270.008<div style="display:none">~ http://www.fidelity.com/role/ScheduleAverageAnnualTotalReturnsTransposedFidelityIndependenceFundClassK column period compact * ~</div>
<div style="display:none">~ http://www.fidelity.com/role/ScheduleAverageAnnualTotalReturnsTransposedFidelityEquityDividendIncomeFundClassK column period compact * ~</div>
0.0050.010.0100.20050.160.00330.00350.0029-0.01650.02860.01360.01882008-05-092008-05-090.00530.00250.00260.01040.0182<font style="FONT-FAMILY: Times New Roman"><b>Institutional Class</b></font><font style="FONT-FAMILY: Times New Roman"><b>Institutional Class</b></font><font style="FONT-FAMILY: Times New Roman"><b>Institutional Class</b></font><font style="FONT-FAMILY: Times New Roman"><b>Return Before Taxes</b></font><font style="FONT-FAMILY: Times New Roman"><b>Return After Taxes on Distributions </b></font><font style="FONT-FAMILY: Times New Roman"><b>Return After Taxes on Distributions and Sale of Fund Shares </b></font><font style="FONT-FAMILY: Times New Roman">The BofA Merrill Lynch<sup>SM</sup> All US Convertibles Index</font>675484691285887766891573111610691216985177319281879213767548419118588776659157311161069101698517731928187921370.2052-0.07590.16480.09790.09360.06890.12040.10480.14560.14960.22490.21630.19490.22910.22940.18660.23422009-02-192009-02-192009-02-192009-02-192009-02-192009-02-192009-02-19<font style="FONT-FAMILY: Times New Roman"><b>Class A - Return Before Taxes</b></font><font style="FONT-FAMILY: Times New Roman"><b>Class A - Return After Taxes on Distributions</b></font><font style="FONT-FAMILY: Times New Roman"><b>Class A - Return After Taxes on Distributions and Sale of Fund Shares</b></font><font style="FONT-FAMILY: Times New Roman"><b>Class T - Return Before Taxes</b></font><font style="FONT-FAMILY: Times New Roman"><b>Class B - Return Before Taxes</b></font><font style="FONT-FAMILY: Times New Roman"><b>Class C - Return Before Taxes</b></font><font style="FONT-FAMILY: Times New Roman">The BofA Merrill Lynch<sup>SM</sup> All US Convertibles Index</font><div style="display:none">~ http://www.fidelity.com/role/ScheduleShareholderFeesFidelityConvertibleSecuritiesFundClassA,ClassB,ClassC,ClassT column period compact * ~</div>
<div style="display:none">~ http://www.fidelity.com/role/ScheduleAnnualClassOperatingExpensesFidelityConvertibleSecuritiesFundClassAClassBClassCClassT column period compact * ~</div>
<div style="display:none">~ http://www.fidelity.com/role/ScheduleExpenseExampleFidelityConvertibleSecuritiesFundClassAClassBClassCClassT column period compact * ~</div>
<div style="display:none">~ http://www.fidelity.com/role/ScheduleExpenseExampleNoRedemptionFidelityConvertibleSecuritiesFundClassAClassBClassCClassT column period compact * ~</div>
<div style="display:none">~ http://www.fidelity.com/role/ScheduleAnnualTotalReturnsFidelityConvertibleSecuritiesFundClassA,ClassB,ClassC,ClassTBarChart column period compact * ~</div>
<div style="display:none">~ http://www.fidelity.com/role/ScheduleAverageAnnualTotalReturnsTransposedFidelityConvertibleSecuritiesFundClassA,ClassB,ClassC,ClassT column period compact * ~</div>
<div style="display:none">~ http://www.fidelity.com/role/ScheduleShareholderFeesFidelityConvertibleSecuritiesFundInstitutionalClass column period compact * ~</div>
<div style="display:none">~ http://www.fidelity.com/role/ScheduleAnnualClassOperatingExpensesFidelityConvertibleSecuritiesFundInstitutionalClass column period compact * ~</div>
<div style="display:none">~ http://www.fidelity.com/role/ScheduleExpenseExampleFidelityConvertibleSecuritiesFundInstitutionalClass column period compact * ~</div>
<div style="display:none">~ http://www.fidelity.com/role/ScheduleAnnualTotalReturnsFidelityConvertibleSecuritiesFundInstitutionalClassBarChart column period compact * ~</div>
<div style="display:none">~ http://www.fidelity.com/role/ScheduleAverageAnnualTotalReturnsTransposedFidelityConvertibleSecuritiesFundInstitutionalClass column period compact * ~</div>
<font style="FONT-FAMILY: Times New Roman" size="5"><b>Fund Summary</b></font><br/><br/><font style="FONT-FAMILY: Times New Roman" size="3"><b>Fund</b>/Class:<br/><b>Fidelity<sup>&#174;</sup> Equity Dividend Income Fund</b>/K </font><font style="FONT-FAMILY: Times New Roman" size="3"><b>Shareholder fees</b></font><br/><font size="-2"><b>(fees paid directly from your investment)</b></font><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><font size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font><div style="display:none">~ http://www.fidelity.com/role/ScheduleAnnualClassOperatingExpensesFidelityIndependenceFundClassK column period compact * ~</div>
<font style="FONT-FAMILY: Times New Roman" size="4"><b>Fee Table</b></font><font style="FONT-FAMILY: Times New Roman" size="3">The following table describes the fees and expenses that may be incurred when you buy and hold shares of the fund.</font><font style="FONT-FAMILY: Times New Roman" size="4"><b>Investment Objective</b></font><font style="FONT-FAMILY: Times New Roman" size="3">The fund seeks reasonable income. The fund will also consider the potential for capital appreciation. The fund looks for a yield that exceeds the composite yield on the securities comprising the S&amp;P 500<sup>&reg;</sup> Index.</font><font style="FONT-FAMILY: Times New Roman" size="3">The fund pays transaction costs, such as commissions, when it buys and sells securities (or &quot;turns over&quot; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 78% of the average value of its portfolio.</font><font style="FONT-FAMILY: Times New Roman" size="4"><b>Portfolio Turnover</b></font><font style="FONT-FAMILY: Times New Roman" size="4"><b>Performance</b></font><font style="FONT-FAMILY: Times New Roman" size="4"><b>Principal Investment Strategies</b></font><font style="FONT-FAMILY: Times New Roman" size="4"><b>Principal Investment Risks</b></font><font style="FONT-FAMILY: Times New Roman" size="4"><b>Year-by-Year Returns</b></font><br/><font style="FONT-FAMILY: Times New Roman" size="2">Calendar Years</font><table border="1" width="95%"><tr><td><div align="left"><i><font size="-1">During the periods shown in the chart:</font></i> </div></td><td valign="bottom" align="center"><div align="center"><i><font size="-2">Returns</font></i> </div></td><td valign="bottom" align="center"><div align="center"><i><font size="-2">Quarter ended</font></i></div></td></tr><tr><td><div align="left"><i><font size="-1">Highest Quarter Return</font></i> </div></td><td><div align="right"><i><font size="-1">18.98%</font></i> </div></td><td><div align="left"><i><font size="-1">June 30, 2009</font></i></div></td></tr><tr><td><div align="left"><i><font size="-1">Lowest Quarter Return</font></i> </div></td><td><div align="right"><i><font size="-1">-19.29%</font></i> </div></td><td><div align="left"><i><font size="-1">September 30, 2011</font></i></div></td></tr></table><font style="FONT-FAMILY: Times New Roman" size="4"><b>Average Annual Returns</b></font><br/><font style="FONT-FAMILY: Times New Roman" size="2">For the periods ended <br/>December 31, 2012 </font><font style="FONT-FAMILY: Times New Roman" size="3">The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index and an additional index over various periods of time. The indexes have characteristics relevant to the fund's investment strategies. Index descriptions appear in the Additional Information about the Indexes section of the prospectus. Past performance is not an indication of future performance.<br/><br/>Visit www.401k.com and log in for updated return information.</font><div style="display:none">~ http://www.fidelity.com/role/ScheduleExpenseExampleFidelityIndependenceFundClassK column period compact * ~</div>
<font style="FONT-FAMILY: Times New Roman" size="2"><i>Highest Quarter Return</i></font>0.18982009-06-30<font style="FONT-FAMILY: Times New Roman" size="2"><i>Lowest Quarter Return</i></font>-0.19292011-09-300.78<font style="FONT-FAMILY: Times New Roman" size="3">An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</font><font style="FONT-FAMILY: Times New Roman" size="3">You could lose money by investing in the fund.</font><font style="FONT-FAMILY: Times New Roman" size="3">The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index and an additional index over various periods of time.</font><font style="FONT-FAMILY: Times New Roman" size="3">Past performance is not an indication of future performance.</font><font style="FONT-FAMILY: Times New Roman" size="3">www.401k.com and log in for updated return information</font><ul><li><font style="FONT-FAMILY: Times New Roman" size="3">Normally investing at least 80% of assets in equity securities.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3">Normally investing primarily in income-producing equity securities that pay current dividends and show potential for capital appreciation, which tends to lead to investments in large cap &quot;value&quot; stocks.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3">Potentially investing in other types of equity securities and debt securities, including lower-quality debt securities.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3">Investing in domestic and foreign issuers.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3">Using fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments.</font></li></ul><ul><li><font style="FONT-FAMILY: Times New Roman" size="3"><i>Stock Market Volatility.</i> Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market and different types of securities can react differently to these developments.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3"><i>Interest Rate Changes.</i> Interest rate increases can cause the price of a debt security to decrease.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3"><i>Foreign Exposure.</i> Foreign markets can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3"><i>Issuer-Specific Changes.</i> The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole. Lower-quality debt securities (those of less than investment-grade quality, also referred to as high yield debt securities) and certain types of other securities involve greater risk of default or price changes due to changes in the credit quality of the issuer. The value of lower-quality debt securities and certain types of other securities can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3"><i>&quot;Value&quot; Investing.</i> &quot;Value&quot; stocks can perform differently from the market as a whole and other types of stocks and can continue to be undervalued by the market for long periods of time.</font></li></ul><font style="FONT-FAMILY: Times New Roman" size="3">An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund.</font><font style="FONT-FAMILY: Times New Roman"><b>Class K</b></font><font style="FONT-FAMILY: Times New Roman">S&amp;P 500<sup>&#174;</sup> Index</font><font style="FONT-FAMILY: Times New Roman" size="3">This <b>example</b> helps compare the cost of investing in the fund with the cost of investing in other mutual funds.</font><br/><br/><font style="FONT-FAMILY: Times New Roman" size="3">Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated: </font><font style="FONT-FAMILY: Times New Roman"><b>Class K</b></font><font style="FONT-FAMILY: Times New Roman">Russell 3000<sup>&#174;</sup> Value Index</font><font style="FONT-FAMILY: Times New Roman" >MSCI<sup>&#174;</sup> U.S. IM High Dividend Yield Index</font><div style="display:none">~ http://www.fidelity.com/role/ScheduleExpenseExampleFidelityEquityDividendIncomeFundClassK column period compact * ~</div>
<div style="display:none">~ http://www.fidelity.com/role/ScheduleAnnualClassOperatingExpensesFidelityEquityDividendIncomeFundClassK column period compact * ~</div>
From May 9, 2008.Class A and Class T purchases of $1 million or more will not be subject to a front-end sales charge. Such Class A and Class T purchases may be subject, upon redemption, to a contingent deferred sales charge (CDSC) of 1.00% or 0.25%, respectively. Declines over 6 years from 5.00% to 0%. On Class C shares redeemed less than one year after purchase.From February 19, 2009.